Mixed Use
Retail, Residential and Garages
Freehold Title
£22,980 per annum
6.57% Yield
Motis Estates are proud to offer two shops, and a 2 x 2 Bedroom Flats with 2 garages at the rear in Hythe High Street. The investment is currently occupied and will be sold with tenants in situ.
Situated on the High Street, there are numerous retail outlets such as WH Smiths, Boots, Iceland and several independent shops all in the vicinity in the picturesque Cinque Port Town of Hythe, approximately 4 miles from the Channel Tunnel terminal and Folkestone. The town centre offers a range of Multiple Retailers and banks and enjoys a wide variety of retail outlets and businesses giving a good mixed trading environment. Sandling mainline railway station, the M20 motorway and Ports of Dover and Folkestone are also easily accessed by car.
The property is a Grade II Listed Building and has two separate shops on the ground floor with a single glazed frontage and a separate access to the flats on the first and second floor via the courtyard garden to the rear.
The ground floor shops benefit from LED strip Lighting with a plasterboard ceiling within the RHS and the LHS benefits from a suspended ceiling with LED panels. To the rear, there is a kitchen area and two w.c's, there is no w.c in the LHS.
The first floor flat is a 2 bedroom flat with a living room, bathroom and two bedrooms on one side of the corridor and a kitchen/dining room on the other side of the corridor accessed through the communal area.
The second floor flat is a 2 bedroom flat which benefits from a living room, kitchen, two bedrooms and a bathroom.
Both benefit from a gas central heating system and are in a good condition.
Accommodation:
LHS Shop - 20.3 sq m
RHS Shop - 55.5 sq m
FF Flat - 75 sq m
SFF Flat - 79 sq m
Garage 1
Garage 2
Energy Performance Certificate: The property has the following EPC ratings however as the property is Grade II listed, it may be exempt:
LHS Shop - Unknown
RHS Shop - 42 (B) valid until November 2031
FF Flat - 65 (D) valid until January 2032
SFF Flat - 70 (C) valid until January 2032
Services: Water, Gas, Drainage and Electric
Use: E Class
Income:
LHS Shop - £4,140.00 per annum
RHS Shop - £6,000.00 per annum
FF Flat - £5,760.00 per annum
SFF Flat - £6,360.00 per annum
Garage 1 - £720 per annum
Garage 2 - Vacant
Total: £22,980 per annum
Price: Offers in excess of £350,000 (no VAT)
Business Rates - Folkestone & Hythe District Council 01303 850388 verbally advise a Rateable Value of LHS - £5,700 and RHS of £9,800 therefore both are eligible under Small Business Rates Relief.
Viewing Strictly by appointment through Motis Estates Chartered Surveyors in Folkestone by calling 01303 212020 or e-mailing kris.foster@motis-estates.com
SUBJECT TO CONTRACT (This firm operates a Complaints Handling Procedure, details of which are available upon request).
IMPORTANT NOTICE FROM MOTIS ESTATES
Descriptions of the property are subjective and are used in good faith as an opinion and NOT as a statement of fact. Please make further specific enquires to ensure that our descriptions are likely to match any expectations you may have of the property. We have not tested any services, systems or appliances at this property. We strongly recommend that all the information we provide be verified by you on inspection, and by your Surveyor and Conveyancer.
